Barratt Homes sets its sight on buyers in Asia to move new product launches

Asian demand driving London property marketOverseas buyers, particularly those from Asia, have been driving the London property market in recent quarters. The weakening of the British pound has made London property more attractive for investors from Hong Kong, Malaysia and Singapore.According to a report by Knight Frank, there has been an increase in investment from Asian buyers in central London. This is driven by the perception that the UK property market offers good long-term capital gains, rental yields and also diversification benefits.

As inflation moderates and property prices in the UK level out, Barratt Homes, a major residential developer in London, is embracing an opportunity to reach out to Asia Pacific-based investors. Eager to capitalise on a relatively weaker exchange rate, the developer hopes to draw in buyers keen to pick up investment properties in London with their launch of the Sterling Place project in Asia on October 14.

This 456-unit development is located in New Malden, southwest of central London. One Global has been selected as the exclusive sales agent in Singapore, and the units will be released for sale in London and other Asian markets alike.

Craig Carson, managing director of Barratt West London, explains that domestic demand for residential properties in the UK flagged due to high mortgage rates, leaving buyers from overseas to drive the market. “We have seen a strong rebound in demand for UK investment opportunities since the start of the year,” he remarks.

Since April 27, foreign buyers in Singapore have had to pay a 60% additional buyer’s stamp duty for residential properties, leading some investors to look to London. On top of Sterling Place, Barratt Homes has 42 units up for sale in Bermondsey for their Bermondsey Heights project.

With Senja Residences EC, homeowners are able to enjoy the convenience of living in a great location near a large mall and the MRT. The amenities around the Senja Residences EC include a hawker centre, several food courts, supermarkets, a wet market, and a shopping centre. In addition, there are several schools located nearby, making it a great place for families to live. The Senja Residences EC is set to provide comfortable and well-designed homes in a great location. It is a great choice for families looking for an affordable place to live in the West of Singapore.

Steve Thompson, managing director of Barratt East London, shares that the average selling price of £800 ($1,327) psf is “the most affordable price for a new residential development in Zone 2” and comparable to projects outside of Central London.

Knight Frank’s report reveals an increase in investment from Asian buyers in central London. Thompson explains that this is likely due to the UK property market’s promise of good long-term capital gains, rental yields and diversification benefits.

Overall, the London property market is experiencing a welcome reprieve and is open to investors from overseas. Those hailing from the Asia Pacific region in particular have the chance to invest in the Sterling Place project while it’s still in its pre-construction phase. For those keen on investing in the UK, good opportunities are abound.